Intelligence note
Admitted to insolvency on 24 Aug 2023 by the Bengaluru bench, on a petition by APARTMENT BUYER'S CONSUMER ASSOCIATION (a financial creditor). The admission order states the default at Rs 2.43 Cr. A resolution plan from Consortium of M/s Bharath Hi Tech Builders Private Limited and M/s Noida Holdings Private Limited ("Successful Resolution Applicant"/"SRA") was approved on 25 Jun 2026, 1,036 days after admission (median for resolved cases: 627 days). Creditors realise 39.65% of Rs 40.35 Cr admitted claims - a haircut of 60.4% against a median of 77.1% across resolutions. The plan is worth 106.2% of the liquidation value of Rs 15.07 Cr, so creditors did better than a break-up sale. This is process 3 of 3 on record for the company.
Case details
CIN
U70109KA2012PLC062065
Incorporated
2012
Registered State
Karnataka
NCLT Bench
Bengaluru
Petition
C.P. (IB) No.113-BB-2022
Initiated by
FC — APARTMENT BUYER'S CONSUMER ASSOCIATION
Amount in Default (per admission order)
Rs 2.43 Cr · 6.0% of admitted claims
Commencement
24 Aug 2023
Outcome Date
25 Jun 2026
Admitted Claims
Rs 40.35 Cr
Liquidation Value
Rs 15.07 Cr
Fair Value
Rs 18.84 Cr
Realisable Amount
Rs 16.00 Cr
Recovery vs Claims
39.65%
Recovery vs LV
106.2%
NCLT Bengaluru: median 369 days admission → verdict · 27% of concluded matters ended in plan approval (n=177, full record) · all benches →
Recent movement
28 Jul 2025
Others - i.a no. 28, 397, 543 & 925/2024, i.a (plan) no. 03/2024 in c.p (ib) no.113/bb/20
NCLT order read the order ↗
18 Dec 2025
Expressions of interest invited
RP: Ms. Ramanathan Bhuvaneshwari
18 Dec 2025
EoI window closed
EoI window closed | 5 rounds held
25 Jun 2026
Resolution plan approved
Acquired by Consortium of M/s Bharath Hi Tech Builders Private Limited and M/s Noida Holdings Private Limited ("Successful Resolution Applicant"/"SRA")
Haircut 60.35%
Haircut 60.35%
Valuations & recovery
Fair value
Rs 18.84 Cr
Liquidation value
Rs 15.07 Cr
Recovery vs fair value
84.93%
Recovery vs liquidation value
106.2%
The plan
Successful applicant
Consortium of M/s Bharath Hi Tech Builders Private Limited and M/s Noida Holdings Private Limited ("Successful Resolution Applicant"/"SRA")
CoC approval
83.05% voting share
EoI / Form-G detail
Case timeline
24 Aug 2023
CIRP commenced
Insolvency proceedings began · NCLT Bengaluru
19 Nov 2023
Expressions of interest invited
RP: Ms. Ramanathan Bhuvaneshwari
11 Jun 2024
Expressions of interest invited
RP: Ms. Ramanathan Bhuvaneshwari
06 Jan 2025
Dismissed - cc (at) no. 18 of 2024 in ca (at) (ins) no.34 of 2020
NCLAT appeal read the order ↗
28 Jul 2025
Others - i.a no. 28, 397, 543 & 925/2024, i.a (plan) no. 03/2024 in c.p (ib) no.113/bb/20
NCLT order read the order ↗
18 Dec 2025
Expressions of interest invited
RP: Ms. Ramanathan Bhuvaneshwari
18 Dec 2025
EoI window closed
EoI window closed | 5 rounds held
25 Jun 2026
Resolution plan approved
Acquired by Consortium of M/s Bharath Hi Tech Builders Private Limited and M/s Noida Holdings Private Limited ("Successful Resolution Applicant"/"SRA")
Haircut 60.35%
Haircut 60.35%
2 years 10 months elapsed · admission → resolution
Company
Legal name
DREAMZ INFRA INDIA LIMITED
Type
Public · Company limited by shares
Listing
Unlisted
Incorporated
16 Jan 2012
Authorised capital
Rs 10.00 Cr
Paid-up capital
Rs 2.00 Cr
Industry (MCA)
Real Estate and Renting
ROC
ROC Bangalore
Company status
Under CIRP
Registered address
577/B, 2ND FLOOR, OUTER RING ROAD, TEACHERS COLONY, KORAMANGALA,BANGALORE,Karnataka,560034-India
Claims filing history
v3 · latest
as on 27 Sep 2023 · filed by Ms. Ramanathan Bhuvaneshwari
v2
as on 23 May 2023 · filed by Ms. Ramanathan Bhuvaneshwari
v1
as on 21 Oct 2020 · filed by Mr. Ashok Kriplani
Sources, basis and disclaimers → ·
report an error
This case vs Real Estate & Housing
Haircut60.4%
typical for this sector 67.1% · median of 81
Recovery vs liquidation value106.2%
typical for this sector 120.9% · median of 79
72% of resolutions in this sector recovered more than their liquidation value — this one did.
Time to resolution1,036 days
typical for this sector 776 days · median of 83
Size rank in sector#55 of 83
Key parties
Resolution Professional
16 IBBI mandates · 188.5% of liquidation value realised across concluded work
IRP at commencement · replaced
Ashok Kriplani → · Sep 2019
◆ RP changed during CIRP — IRP was replaced
CIRP initiated by
Apartment Buyer'S Consumer Association FC
Resolution applicant
Consortium of M/s Bharath Hi Tech Builders Private Limited and M/s Noida Holdings Private Limited ("Successful Resolution Applicant"/"SRA")
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